daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > Supertalls

Supertalls Discussions of projects under construction between 300-599m/1,000-1,999ft tall.
» Proposed Supertalls



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old July 2nd, 2013, 08:33 PM   #2701
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

My pleasure. The TWC were the first of the wave of mega-luxury apartments. Jay-Z lived there for a while.
__________________

L.A.F.2., Highcliff liked this post
RobertWalpole no está en línea   Reply With Quote

Sponsored Links
Old July 2nd, 2013, 09:55 PM   #2702
iiConTr0v3rSYx
Brooklyn Boy
 
iiConTr0v3rSYx's Avatar
 
Join Date: Jan 2013
Location: Brooklyn, New York
Posts: 1,343
Likes (Received): 2924

Good to hear that the North Tower has secured an anchor tenant!

It's good to see an area with major construction activity other than the WTC.
iiConTr0v3rSYx no está en línea   Reply With Quote
Old July 2nd, 2013, 10:54 PM   #2703
Vertical_Gotham
Registered User
 
Vertical_Gotham's Avatar
 
Join Date: Mar 2013
Location: New York, NY
Posts: 4,437
Likes (Received): 6488

Hudson Yards has its Condé Nast moment
Tentative deal to sign Time Warner on as the anchor tenant in second spire on the site hugely boosts not just The Related Cos.' huge, mixed-use development there but also those of other developers in the area.
http://www.crainsnewyork.com/article...TATE/130709973

Quote:
News that The Related Cos. is close to a deal to bring Time Warner from its eponymous headquarters in Columbus Circle to the Hudson Yards, west of Penn Station, has appeared to solidify the rail yards' place as the new Manhattan nesting spot for corporate America. If the deal is inked as expected, it would stand alongside Condé Nast's decision in 2011 to move downtown to 1 World Trade Center as a transformative moment.

Time Warner is negotiating to take over 1 million square feet in an office tower that Related, the rail yards' developer, is planning at the northeast corner of the site, on Tenth Avenue. The building would be the second to rise at the 26-acre site. Ground was broken late last year for the first office tower there, a 1.7 million-square-foot spire, on Tenth Avenue and West 30th Street. Work began after Coach Inc., L'Oreal and SAP all committed to become anchor tenants in the 47-story building. But with the Time Warner transaction, Related will finally begin constructing its long-planned platform over the yards.

"When those first three deals were made, that removed the question of which tenants were going to be the pioneers," said Arthur Mirante, the New York-area president of Avison Young. The Time Warner deal, he says, means momentum for the project.

Mr. Mirante is representing a competing project to the rail yards, an office tower called 3 Hudson Boulevard that is being planned by developer Joseph Moinian for the corner of West 34th Street and Eleventh Avenue. Mr. Mirante estimated that at least 20 large scale tenants in the market—including Credit Suisse, UBS and Sony—would consider the Hudson Yards as a solid contender in their search, now that the area has received the stamp of approval from four major corporations.

Those rising neighborhood's new corporate converts will also buoy hopes for another large office complex just east of the rail yards, Manhattan West. It is being developed by Brookfield Properties, and, like the Moinian property, it will benefit if corporate interest bleeds beyond the Related-owned yards.

Despite a still-lackluster commercial leasing market in the city, Related's rail yards has so far been able to steal tenants away from more central locations in midtown with its hard-to-match mix of economics, infrastructure and amenities—including the third and final leg of the High Line which will wrap around the southern and western flank of the project.

"Sooner or later, these companies want new space that can offer them environmental efficiencies, branding opportunities, state of the art amenities like floor-to-ceiling windows and high ceilings," Mr. Mirante said. "You just can't get that in existing buildings in midtown."

Meanwhile, the oceans of vacant space left behind in midtown by the firm's shift over to the rail yards will only put more strain on a market that already has acres of empty space. Scott Panzer, a leasing broker at Jones Lang LaSalle, said that the space Time Warner would leave behind in the Time Warner Center could place further pressure on Sixth Avenue, which has seen a spate of very large vacancies crop up.

Time Warner is planning to sell its space, which it owns as a condo interest, to Related for more than $1 billion as part of its planned move to the rail yards. Related then would lease that space.

"The Time Warner space that is left behind could pummel Sixth Avenue," Mr. Panzer said. "All the vacancies on the avenue will have a new competitor, a new block of space that is somewhat superior."
Vertical_Gotham no está en línea   Reply With Quote
Old July 2nd, 2013, 11:00 PM   #2704
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

I would like to see the Girasole to be the next tower to get an anchor.
__________________

1Filipe1, Vertical_Gotham liked this post
RobertWalpole no está en línea   Reply With Quote
Old July 2nd, 2013, 11:08 PM   #2705
Vertical_Gotham
Registered User
 
Vertical_Gotham's Avatar
 
Join Date: Mar 2013
Location: New York, NY
Posts: 4,437
Likes (Received): 6488



My favorite part of the whole article is:

Quote:
AT LEAST 20 LARGE SCALE TENANTS IN THE MARKET —including Credit Suisse, UBS and Sony—would consider the Hudson Yards as a solid contender
If that is true I think this bodes well for the WTC complex and the rest of the Yards eventually landing anchor tenants.

Oh Robert... don't forget Mr. Wanda as a potential player!
Vertical_Gotham no está en línea   Reply With Quote
Old July 2nd, 2013, 11:46 PM   #2706
1Filipe1
BANNED
 
Join Date: Jul 2012
Posts: 887
Likes (Received): 319

So exciting to see what tower is next to get the go, I really like the girasole but i'd really like 2 and 3 wtc to get finished
__________________

L.A.F.2., Highcliff liked this post
1Filipe1 no está en línea   Reply With Quote
Old July 3rd, 2013, 12:20 AM   #2707
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

Quote:
Originally Posted by Vertical_Gotham View Post


My favorite part of the whole article is:



If that is true I think this bodes well for the WTC complex and the rest of the Yards eventually landing anchor tenants.

Oh Robert... don't forget Mr. Wanda as a potential player!
Thanks, VG. I have not forgotten Wanda. That is going to be another great development. I look forward to seeing where they build. My guess is that it will be in Midtown in the 50s, since that's the most suitable spot for a five-star hotel.
RobertWalpole no está en línea   Reply With Quote
Old July 3rd, 2013, 12:20 AM   #2708
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

As set forth below, there is demand for uber-luxury office space, and yet, there are very few spots in the Plaza District.

High-end office space leads the way in first half of 2013
More $100-per-square-foot deals signed than last year
July 01, 2013
By Adam Pincus
Manhattan’s office leasing market bumped along in the first half of the year but got a bit of a boost from increases in the number and price per square foot of high-end deals concentrated in the Plaza District.

Through late last month, 28 leasing deals with rents of $100 per square foot and above had been signed — the highest at roughly $200 per square foot. That compares with 23 leasing deals for the same period of 2012, with the highest in the $170-per-square-foot-range, preliminary information from leasing tracking firm CompStak revealed.

The top deals of 2013 include an early renewal last month by investment firm Och-Ziff Capital Management Group, at Sheldon Solow’s 9 West 57th Street, for more than $200 per foot on floors 39 and 40; and a branch of Brazilian lender Banco Itaú, which leased about 10,000 square feet in Boston Properties’ General Motors Building at 767 Fifth Avenue, for about $200 per foot.

The deals eclipse last year’s priciest one: Icahn Enterprises took about 28,000 square feet in the GM Building in the high $170s per foot, information from CompStak showed.

A combination of a modest recovery in the economy and the low inventory of high-end office space is driving up prices, said Compstak’s research director, Noam Shachar.

“The smaller, luxury spaces are harder to come by,” he said.

For Manhattan overall, the average asking rent recovered from a yearlong drop-off to nearly match the level of 2012’s second quarter. The average asking rent was $56.61 per foot, compared with $56.64 for the same period last year, according to preliminary figures from Colliers International, a commercial brokerage.

The availability rate, which measures space available over the next 12 months, was identical in the second quarter of both years — 12.1 percent.

Midtown

Second-quarter asking rents remained far below where they were for the same period last year, and the availability rate ticked up slightly. Both figures, however, showed an improvement over the first quarter.

The average asking rent was $66.09 per square foot in Midtown, a $2.54 per foot decline from 2012’s second quarter but a $1.02 per foot increase from the first quarter.

The availability rate followed a similar pattern: It stood at 12.2 percent for the second quarter of 2012; then it rose, hitting 12.6 percent in the first quarter, before declining to 12.3 percent for the last quarter.

An example of the new leasing activity was at 1001 Sixth Avenue, at 37th Street. Pharmaceutical marketing firm Crossix changed floors and expanded within the 240,000-square-foot building.

Crossix moved from about 5,000 square feet on a portion of the 17th floor, to all of the 12,000 square feet on the fifth floor, which had an asking rent of $45 per foot.

The 10-year lease was signed June 26. Commercial brokerage Savitt Partners represented the tenant. Representing the landlord were James Caseley, an executive managing director at ABS Partners Real Estate, and his colleague, Douglas Regal, a managing director at the company.

“We are seeing absorption along Sixth Avenue from 34th to 42nd [streets], Caseley said, adding that asking rents are creeping up, although the environment remains in the tenant’s favor.

Midtown South

The area’s hot market kept asking rents on their steady march upward last quarter, although a significant amount of space opened up — driving up the availability rate and spurring some landlords to price their product to move.

The largest block of space coming on the market last month was at 61 Ninth Avenue, CoStar Group showed. Newmark Grubb Knight Frank’s Justin DiMare listed 110,128 square feet on floors 4 through 12, for a new development project on the site of Prince Lumber, at the corner of 15th Street. The 12-story Kohn Pederson Fox–designed tower is expected to be ready for occupancy in the first quarter of 2016.

Also hitting the market were floors 11 and 12 at the 350,000-square-foot Masonic Hall at 71 West 23rd Street, at the corner of Sixth Avenue; each floor has 13,000 square feet. The space is occupied by management support services firm Aecom but will be available at the end of this year.

The asking rent is $58 per square foot. Rents in the building have increased about $20 per foot over the past two years — the same as the market overall, according to the Masonic Hall’s representative, Herb Goldberg, commercial manager for brokerage City Connections Realty.

Midtown South’s average asking rent was $51.52 per foot, compared with $43.76 in 2012’s second quarter. The availability rate also increased in that same period, from 8.8 percent to 9.2 percent, the Colliers data showed.

“We tried to price [the Masonic Hall] fairly; we did not shoot for the stars,” Goldberg said, suggesting that other comparable buildings are asking $62 per foot to $65 per foot. His ask is “below market,” Goldberg noted.

“We are interested in a certain type of tenant, and want to get it rented sooner rather than later,” he said.

Downtown

The Downtown market saw a sharp increase in its availability rate, driven in part by more space hitting the market.

One of the larger blocks listed was at the Equitable Building, at 120 Broadway, for floors occupied by the law firm Lester Schwab Katz & Dwyer. CoStar shows 68,000 square feet as available, the 38th floor and part of the 39th floor, although a move-in date was not specified. The law firm did not respond to a request for comment.

The law firm inked a renewal deal in 2007 with an estimated rent of $42.50 per foot, data from CoStar shows.

Over the past year, the average asking rent per foot rose from $45.44 to $45.71, and the availability rate fell to 15.9 percent from 16.7 percent, Colliers data showed.

The higher rents in Midtown and Midtown South are driving new kinds of tenants to Lower Manhattan — far different from the area’s many nonprofits and law and financial services firms.

For example, 44 Wall Street has seen interest from businesses tied to home and fashion, said ABS managing director Keith Lipstein, who represents the landlord.

Lipstein had a fashion eyewear company and an interior design company that makes high-end paints tour the 350,000-square-foot building, although neither inked a deal.

“That is relatively new,” he said.
__________________

Kanto, NYCrulz liked this post
RobertWalpole no está en línea   Reply With Quote
Old July 3rd, 2013, 12:40 AM   #2709
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

Here's another article from The Real Deal re: demand for uber-high-end space. Hedge funds and PE firms simply don't care about getting values on rents.

Hedge fund Tiger leases 35th-floor at Solow Building
July 02, 2013 05:30PM
« Previous Next » Print Tweet
Clockwise left to right: 9 West 57th Street, CBRE’s Paul Amrich, Jones Lang LaSalle Vice Chairman Scott Panzer
Sheldon Solow, the famously mercurial owner of 9 West 57th Street, has signed Tiger Global Management to a lease for the 50-story building’s entire 35th floor, Crain’s reported.

Asking rent for the 32,000-square-foot space was north of $175 per square foot, as Jones Lang LaSalle’s leasing agent Scott Panzer told Crain’s. Tiger is relocating from 101 Park Avenue, and will take the new space at West 57th Street for 10 years.

The law firm Shearman & Sterling, which served as legal counsel on several incoming leases at the building, estimated to Crain’s that the deals will tuck a cool $400 million in gross rent over the course of their lives into the billionaire’s pocket.

Paul Amrich, a leasing broker with CBRE Group who represented Tiger in the deal, could not be reached by Crain’s for comment.

Other recent leases in the building include hedge fund Och Ziff, which renewed its nearly 100,000-square-foot lease for close to $175 per square foot, as The Real Deal reported. [Crain's] –Julie Strickland
RobertWalpole no está en línea   Reply With Quote
Old July 3rd, 2013, 01:40 AM   #2710
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

Here's a great video:

http://m.youtube.com/#/watch?v=FLedC...%3DFLedCWbsFLk

And a re-post of another:

http://m.youtube.com/#/watch?v=mz5G3...%3Dmz5G3KPkWko
__________________

Kanto liked this post
RobertWalpole no está en línea   Reply With Quote
Old July 3rd, 2013, 10:28 PM   #2711
Eric Offereins
The only way is up
 
Eric Offereins's Avatar
 
Join Date: Jan 2004
Location: Rotterdam
Posts: 68,707
Likes (Received): 28349

Quote:
Originally Posted by Vertical_Gotham View Post


My favorite part of the whole article is:



If that is true I think this bodes well for the WTC complex and the rest of the Yards eventually landing anchor tenants.

Oh Robert... don't forget Mr. Wanda as a potential player!
HY needed some big names to get things going. Probably more companies will flock there.
__________________

Highcliff liked this post
Eric Offereins está en línea ahora   Reply With Quote
Old July 4th, 2013, 03:29 AM   #2712
Ajaypp
Trivandrum Lobbyist
 
Ajaypp's Avatar
 
Join Date: Jun 2005
Location: Trivandrum/Boston
Posts: 7,984
Likes (Received): 1131

Quote:
Originally Posted by RobertWalpole View Post

The WTC will land tenants. I have said for the past 2 years that no proposal could compete with HY on price, and I was right -- notwithstanding many who wrongly predicted that Brookfield's MW could.

There are a lot of tenants looking for massive blocks of space.
Lol, Robert, I hear you. Related's pricing was always a big draw. But I would still rate MW's chances over 2 and 3 WTC to draw a media tenant because of the general preference for Midtown. Even with the new transit improvements close to the WTC, I still think Midtown is a more desirable destination from a quality of life perspective.

Btw, I thought the HY North Tower was close to 3 Million SF, not just 2.4 Million SF. And I am surprised that TW is just leasing 1.2 Million SF when their existing portfolio across Manhattan is more than 3 times as much.
Ajaypp no está en línea   Reply With Quote
Old July 4th, 2013, 04:45 AM   #2713
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

Hi, Ajaypp.

I am not surprised about TW's move. They'll keep people that they need in the new HQ and will put fungible people in much cheaper space in Westchester, Stamford, and/or NJ.

I am confident that 3 WTC will be the next tower to secure an anchor, but it will be interesting to see who's next. Brookfield's towers are a minimum of 2m sf, so they need a bigger commitment than does Moinian's Girasole (which has only 1.3m sf of office space) or SL Green's 1 Vanderbilt, which has 1.6m sf. Both the Girasole and 1 Vanderbilt are in much nicer locations than MW. I know we disagree, but 9th Ave and 33rd is a dump, whereas Girasole, by contrast, will be on the new boulevard and basically adjacent to HY's incredible amenities.

I suspect that Extell's former parcel, One HY, will become residential.
RobertWalpole no está en línea   Reply With Quote
Old July 4th, 2013, 07:40 AM   #2714
Ajaypp
Trivandrum Lobbyist
 
Ajaypp's Avatar
 
Join Date: Jun 2005
Location: Trivandrum/Boston
Posts: 7,984
Likes (Received): 1131

Quote:
Originally Posted by RobertWalpole View Post
Hi, Ajaypp.

I am not surprised about TW's move. They'll keep people that they need in the new HQ and will put fungible people in much cheaper space in Westchester, Stamford, and/or NJ.

I am confident that 3 WTC will be the next tower to secure an anchor, but it will be interesting to see who's next. Brookfield's towers are a minimum of 2m sf, so they need a bigger commitment than does Moinian's Girasole (which has only 1.3m sf of office space) or SL Green's 1 Vanderbilt, which has 1.6m sf. Both the Girasole and 1 Vanderbilt are in much nicer locations than MW. I know we disagree, but 9th Ave and 33rd is a dump, whereas Girasole, by contrast, will be on the new boulevard and basically adjacent to HY's incredible amenities.

I suspect that Extell's former parcel, One HY, will become residential.
Well I see MW's larger towers as an advantage in attracting bigger tenants. Moreover the Boulevard is going to take some time to get developed. Proximity to Penn Station is always an advantage for MW.

Before we go any further OT, do you think the big (trading) floors in the North Tower will become media production space for TW?
Ajaypp no está en línea   Reply With Quote
Old July 4th, 2013, 11:54 AM   #2715
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

The trading floors will probably be studio space. CNN International currently broadcasts some shows from a studio overlooking Central Park. Their new studio will probably overlook the HY's plaza.
RobertWalpole no está en línea   Reply With Quote
Old July 4th, 2013, 01:49 PM   #2716
Eric Offereins
The only way is up
 
Eric Offereins's Avatar
 
Join Date: Jan 2004
Location: Rotterdam
Posts: 68,707
Likes (Received): 28349

That will be a cool modern looking background on television.
Eric Offereins está en línea ahora   Reply With Quote
Old July 4th, 2013, 04:13 PM   #2717
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

I agree.
RobertWalpole no está en línea   Reply With Quote
Old July 5th, 2013, 07:37 AM   #2718
Ajaypp
Trivandrum Lobbyist
 
Ajaypp's Avatar
 
Join Date: Jun 2005
Location: Trivandrum/Boston
Posts: 7,984
Likes (Received): 1131

Quote:
Originally Posted by RobertWalpole View Post
I agree.
Although nowhere as iconic as a Central Park or Times Square view.
Ajaypp no está en línea   Reply With Quote
Old July 5th, 2013, 07:39 AM   #2719
Ajaypp
Trivandrum Lobbyist
 
Ajaypp's Avatar
 
Join Date: Jun 2005
Location: Trivandrum/Boston
Posts: 7,984
Likes (Received): 1131

Quote:
Originally Posted by RobertWalpole View Post
The trading floors will probably be studio space. CNN International currently broadcasts some shows from a studio overlooking Central Park. Their new studio will probably overlook the HY's plaza.
Wonder if they will have to raise the floor heights and also look at increasing the column free spans? That would mean a major structural redesign.

Let me take a look at some of the structural plans that I have of the North Tower and see what the current trading floors look like.
Ajaypp no está en línea   Reply With Quote
Old July 7th, 2013, 02:43 PM   #2720
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

As set forth in a schematic in this video, Related is calling the old Coach/McD's site on 33rd and 10th One Hudson Blvd.

RobertWalpole no está en línea   Reply With Quote


Reply

Tags
30 hudson yards, hudson yards, manhattan tower, north tower, supertall, west 33rd street

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 09:55 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu